Stryker (NYSE:SYK) Receives "Buy" Rating from BTIG Research

Key Points

• BTIG Research reiterated a "Buy" on Stryker with a $397 price target (about 14.3% upside); analysts collectively rate the stock a Moderate Buy with a consensus target of $421.74 (15 Buys, 6 Holds).
• Stryker beat quarterly expectations, reporting EPS of $4.47 vs. $4.40 and revenue of $7.17 billion vs. $7.12 billion, with revenue up 11.4% year-over-year and a net margin of 12.92%.
• Director Ronda E. Stryker sold 250,000 shares for about $90.73 million (a 9.23% reduction in her holdings); company insiders collectively own 4.60% of the stock.

Stryker (NYSE:SYK - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $397.00 price target on the medical technology company's stock. BTIG Research's target price points to a potential upside of 14.32% from the stock's previous close.

A number of other research firms have also weighed in on SYK. Citigroup lowered their price objective on shares of Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Robert W. Baird set a $437.00 price objective on shares of Stryker in a research report on Friday, January 30th. UBS Group lowered their price objective on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Truist Financial lowered their price objective on shares of Stryker from $400.00 to $392.00 and set a "hold" rating on the stock in a research report on Thursday, December 18th. Finally, Evercore set a $390.00 price objective on shares of Stryker in a research report on Monday, January 5th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $421.74.

Stryker Stock Performance

Shares of SYK opened at $347.28 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a market cap of $133.00 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. The company's 50 day simple moving average is $354.45 and its 200-day simple moving average is $360.24. Stryker has a 12-month low of $319.32 and a 12-month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $4.01 earnings per share. As a group, equities analysts predict that Stryker will post 13.47 EPS for the current year.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clayton Financial Group LLC acquired a new position in shares of Stryker during the 3rd quarter worth $26,000. Godfrey Financial Associates Inc. acquired a new position in shares of Stryker during the 4th quarter worth $26,000. Sankala Group LLC acquired a new position in shares of Stryker during the 4th quarter worth $26,000. United Financial Planning Group LLC acquired a new position in shares of Stryker during the 3rd quarter worth $27,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Stryker during the 4th quarter worth $27,000. Institutional investors and hedge funds own 77.09% of the company's stock.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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